Milkovo (Russian: Мильково) is a rural locality (a selo) and the administrative center of Milkovsky District, Kamchatka Krai, Russia. Population: 8,251 (2010 Russian census); 9,243 (2002 Census); 12,132 (1989 Soviet census).

Milkovo was first mentioned in 1743. An ironworks was founded in Milkovo in 1752, but closed after 20 years. A road connecting Milkovo with Petropavlovsk-Kamchatsky was opened in 1966.

The city contains a gas station and a restaurant known as the "Beer House".